Posts in category: Uncategorized

Starting a business is an exciting journey. As you move forward with your plans, you need to make many decisions and choices that will impact the outcome of your venture. One of the key factors that can affect your success is your relationship with investors. At our company, we understand the importance of transparency and communication with our investors because we haven’t always prioritized that. 

Transparency is Foundational 

Our approach to investor relations is built on complete transparency. Every quarter, our investors receive open and honest communications about where we stand, progress and obstacles of our business – from sales/revenue details to any temporary setbacks we may encounter. We believe this level of disclosure helps cultivate trust in who we are as a company – after all, these people have put their faith in us, and we want to share the journey with them at every milestone along the way!

Communication is Essential

Our relationship with our investors is truly special; it’s forged on a foundation of open communication. We use various channels – email, phone calls, and in-person meetings – to stay connected and provide timely updates about new developments. Plus, we make sure they feel informed through our regular newsletters featuring key achievements. It’s clear why this level of connection has been so valuable: strong communication ensures they never miss an important milestone and are never in the dark.

In-Depth Reports 

We want to make sure our investors are well-informed about their investments with us. That’s why we offer regular updates as well as in-depth reports that give them a behind the scenes look at how things really work within our business so they can make smart decisions. Transparency is key for creating trust, and these detailed insights help build bridges between us and those who believe in our mission.

We also believe that transparency and communication go beyond financials and operations. At our company, we ensure that we communicate our values, principles, and ethical conduct to our investors. We share our vision, mission, and long-term goals with them. We believe that sharing this information helps our investors understand what we stand for, and it encourages them to support us in achieving the goals that will benefit us all.

Transparency and communication are critical elements of our relationship with our investors. Our commitment to sharing information and keeping our investors updated has helped us build a strong and supportive relationship with them. We believe that being transparent and communicating regularly with our investors is the best way to build trust and confidence within our company. We will continue to maintain this approach and strive to continually improve that. If you are a founder or entrepreneur, we encourage you not to forget how important investor relations are. 

As an entrepreneur, I’ve learned that setbacks and challenges are not only inevitable, but they are also crucial to growth and success. Rather than seeing them as failures, I choose to view them as opportunities to learn and improve. In fact, some of my biggest achievements have come on the other side of setbacks. Sure, it’s not always easy to stay motivated when faced with unexpected circumstances, but I truly believe that the greatest hurdles bring the greatest rewards. When things get tough, I remind myself that each challenge is simply another part of the journey towards achieving my goals.

Take a Step Back

Instead of getting discouraged by setbacks, I believe in taking a step back and analyzing the situation. This not only helps me identify what went wrong but also what needs to change in order to achieve success. For instance, if my product doesn’t meet sales expectations, I don’t see it as a failure. Instead, I try to assess the situation and figure out what can be improved – be it the product features or its pricing or my marketing strategy. This has not only helped me learn from my mistakes but also develop my curiosity and resilience – traits that I consider invaluable for any entrepreneur.

Mindset Matters

I have found that one of the most important things when it comes to achieving long-term success is maintaining a positive outlook. Whenever I encounter setbacks or bumps in the road, I try to reframe them as learning experiences instead of dwelling on them as failures. By doing this, I’m able to keep my focus on the goals and avoid getting discouraged by unexpected issues or overwhelmed by challenges. This attitude also encourages me to get creative, because it motivates me to think outside the box and search for innovative solutions instead of solely fixating on past mistakes. It’s not always easy, but I believe that having a positive outlook is a truly essential aspect of achieving sustained success.

It’s Not Easy, but It’s Worth It

Being an entrepreneur is not an easy feat. It requires the ability to weather the storm of setbacks and obstacles that are bound to arrive. However, the right mindset and resilience can pave the way for success. Removing the word “failure” from my vocabulary helps me maintain my drive and motivation in my business pursuits. Experimentation and reflection are also key habits for any entrepreneur looking to improve and advance their goals. By consistently assessing the results of calculated risks, you can refine your skills and move toward your goals with more momentum. Through dedication and a willingness to constantly learn and evolve, entrepreneurs can overcome obstacles and achieve success and leave “failure” behind for good.

Why “No” can be the Biggest Blessing of Your Life as an Entrepreneur

As an entrepreneur, hearing the word “no” can be one of the toughest pills to swallow. Nothing can be more disheartening than hearing someone reject your proposal or idea after putting so much effort into it. However, through my journey, I’ve come to realize that “no” can also be the biggest blessing of your life as an entrepreneur and I’m going to share how hearing “no” can actually  improve your ideas, help you recognize when it’s time to pivot, build resilience and appreciate the value of opportunities.

Improve Your Ideas 

Don’t take “no” personally.  Take it as an opportunity to get some important, valuable feedback. A fresh perspective can show you places where your idea or proposal needs work – and maybe even point the way towards something entirely new. So instead of being downcast by rejection, use it to sharpen up your project into something that will really make heads turn.

Time to Pivot

It can be easy to get stuck in the weeds when focusing on a single idea, but recognizing potential roadblocks is key to finding success. If you receive negative feedback or consistently hear “no,” it may indicate that it’s time for a shift in focus. Don’t waste your resources – take an objective approach and pivot towards other opportunities that may have more potential! Reevaluating what isn’t working allows you to better utilize your energy as well as open up space to explore new possibilities.

Build Resilience

Being able to remain confident and resilient in the face of rejection is a key factor that entrepreneurs must master along this journey. As you journey toward success, it’s inevitable that “no” will be something that is heard again and again. However, by learning to accept these rejections as just one part of building something bigger can help you stay motivated and focused on your ultimate goal.

Appreciate the Value of “Yes”

Finally, hearing “no” can also help you appreciate the value of “yes.” When you do get a “yes,” it feels much sweeter because you fought for it. You worked hard to overcome the obstacles and prove that your idea was worth it. If everything came easy, you wouldn’t appreciate your successes as much as you do those that have proved difficult to achieve.

As an entrepreneur, building a successful business requires more than just great ideas. It also depends on having the right team behind you. As leaders, we’re responsible for creating an environment that fosters collaboration, innovation, and continuous learning. 

The Right People

At the core of building a strong team lies the process of finding the right people. It’s important to seek out individuals who share your company’s vision, values, and passion,  because they can make all the difference in the end. By bringing on team members who are not only skilled and experienced, but also aligned with your company’s mission and values, you can build a team of like-minded individuals who are passionate about achieving your shared goals and making an impact.

Shared Purpose & Vision

As a leader, it’s essential to cultivate an atmosphere of shared purpose and vision.  It starts with you.  It’s crucial to have a clear understanding of who you are as a company, what your values mean, and how every individual contributes to reaching those goals.  Encouraging your team members to contribute their ideas and collaborate will lead to a more productive and innovative team.

 Collaboration & Innovation

Innovation and collaboration are vital for building a successful business. By encouraging your team members to share their knowledge and expertise, you can create a culture of innovation that leads to new ideas and strategies. Embracing setbacks as opportunities for growth can also be a valuable learning experience for the team. Celebrating these learning experiences can create a culture of learning and growth.

Sense of Belonging 

It’s crucial to cultivate a sense of belonging and purpose within your team. Providing opportunities for personal and professional growth, and encouraging your team members to pursue their passions and interests can create a strong sense of belonging and purpose. When every team member feels valued, supported, and empowered, it will lead to a more productive and engaged team and increased success and achievement for everyone.

In 2007, my business partner and I each invested $26,000 to kickoff our 1st venture together and start building my first startup.

I maxed out two HELOCs, my credit cards, my savings, and off we went into the cold waters of no salary, no safety net, but 

 – We had Hope

 – We had Dreams

 – We had a Hunger

Looking back, I can also see how naive I was to the whole startup world and to “business” in general.

We operated somewhat alone and mostly on gut instinct.

Fast forward to 2012…

We ended up with a product company, service company, manufacturing company, real estate venture, management/consulting company, and a few other businesses all under one umbrella/brand that we rolled up to an eventually exit (late Dec 2012).

The journey of building from inception to an exit changed my life.

 – Every day we wondered if we would make it to the next.

 – Every day we had to find the courage to persevere.

 – Every day we had to break through limits we didn’t know existed.

Those lessons shaped and forged me.

Fast forward to today, I’m building something bigger, but this time in a larger community and alongside those that inspire me, push me, pull bigger levers, and come with me on this daily journey.

All the same factors are in play every day, but because of our investors, partners, mentors, operators, and fellow founders (our tribe), we’re playing a new game… a bigger game…

Thank you tribe…
————————————–
To learn more about what we’re building, and how to get involved, visit theblacksmith.com. If we’re a fit, let’s talk.

I listen to the “My First Million” podcast during trips, runs etc. Great show! But, my boy Shaan got it wrong about Alabama and Georgia on the latest episode. 

 We’re building amazing business – not all of them are sexy – but they are investments that create wealth, impact, and novelty (aka “WIN”). Turning coal into diamonds, baby… Wanna get involved? Visit theblacksmith.com #entrepreneur#business#investment#startups#founder

Question came in from a Founder around the type of investors we work with and what type of investor was right for them. It’s a great question, but lots to think about and unpack. Some definitions

  Private Equity Firms: They raise capital to acquire equity stakes in mature companies, and use their resources to grow EBITDA and exit within a few years.

  Venture Capital Firms: They provide funding to early-stage and growth-stage companies with high growth potential, seeking to help those companies grow rapidly and exit the investment within a few years.

  Strategic Buyer: They invest/acquire a company with the specific goal of gaining strategic benefits beyond just financial returns, such as access to new technologies, markets, or partnerships.

  Private Investors: Individuals (OGs) or organizations that invest their own capital directly into companies or other assets, often seeking to diversify their portfolio, share their wisdom, create impact, etc.

  Passive Investors: Individuals or organizations that invest their capital into a fund or other investment vehicle and have little to no involvement in the management of the underlying assets, typically seeking to achieve long-term growth and diversification.

As you can see, it really depends on what stage your venture is in, growth outlook, Founder’s plan, and appetite, etc.

Here for you if you need it…

Visit theblacksmith.com if you want to learn more.

Here at TechCrunch Early Stage 2023 and it’s super fun! Signed up at a Networking Event
and got to meet different founders and investors!

It’s super awesome to see early stage investors attracted to founders who have ideas, experiences, and opportunities!

What’s even more exciting is our Boston Group has now 4 members for our Launch Program that we’re building out! More to come from the Boston Area!

If you’re a founder or an investor looking to spice things up for your business, and grow your network, visit theblacksmith.com.

#techcrunch #techcrunchearlystage2023 #tcearlystage2023

Here was my day yesterday. Still got in all the reps (mostly due to the fact that we put systems in for everything), but in between calls I was checking on a sick kid, making rice, and grabbing fluids. 

Each day we must prioritize the “WIN”.

Here were a few wins from yesterday:

– Quoted a huge project for one of our Ventures (I actually prepared the quote based on our VPs notes). I call this the dirty reps. Took about 30 minutes.

– Quality time with my daughter even though she was confined to her room

– Amazing call with an Investor Accelerator group for one of our Ventures

– Two calls with guys I adore who pour into me

– Got my workout in, shot BSV Launch Episode 5 (will drop on YouTube Thursday), took my other kid to soccer, recorded this, and met with each of our Operators for our weekly Catchup.

– “Work Day” starts at 7am and ends around 8:30pm, but the individual moments are what count.

I’m always focused on the “forward”, but thought I’d share a brief look back to yesterday…

My wife is back to tag in today, but yesterday was awesome. Now, time to focus on today’s moments…

If you want to learn more about how we do it inside our ventures, visit theblacksmith.com.

I have two types of investors that support our ventures. 
 Passive Investors and  Partners.  Here’s the difference;

 Passive Investors simply invest with us assuming no time commitment because they want to be a part of something great.  I use “WIN” – Wealth, Impact, Novelty as an acronym because it’s really about more than money.

 Active Investors (we call them Partners) invest alongside us (“alongside” because we invest a significant amount of our own money and time into each venture).  They are looking for something different. 

Active Investors are looking to partner with us to inject their wisdom, talents, and experiences in order to give back, create a legacy, and have a crap ton of fun.

This weekend, I played “ACTIVE INVESTOR”.  I provided the wisdom, resources, and experience to create a “WIN”.

“Wealth” – I accomplished a task I needed to do and saved my time.

“Impact” – They laughed, learned, and bonded the entire time (memories)

“Novelty” – They experienced something they’ve never done before and will never forget (new, fun experiences).

How are you going to “WIN” today?

If you want to learn more about how we do it inside our ventures, visit theblacksmith.com